Watch Point Trust Co Increases Stock Holdings in The Coca-Cola Co (NYSE:KO)

Watch Point Trust Co grew its position in The Coca-Cola Co (NYSE:KO) by 1.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,461 shares of the company’s stock after buying an additional 1,056 shares during the quarter. Watch Point Trust Co’s holdings in The Coca-Cola were worth $3,455,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in KO. Krane Funds Advisors LLC acquired a new stake in The Coca-Cola in the 2nd quarter worth about $25,000. LFA Lugano Financial Advisors SA boosted its position in The Coca-Cola by 348.8% during the 2nd quarter. LFA Lugano Financial Advisors SA now owns 552 shares of the company’s stock worth $28,000 after acquiring an additional 429 shares during the period. Redhawk Wealth Advisors Inc. acquired a new position in The Coca-Cola during the 2nd quarter worth $36,000. Candriam Luxembourg S.C.A. boosted its position in The Coca-Cola by 1.0% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 647,744 shares of the company’s stock worth $37,000 after acquiring an additional 6,373 shares during the period. Finally, KCS Wealth Advisory acquired a new position in The Coca-Cola during the 3rd quarter worth $41,000. Institutional investors and hedge funds own 67.32% of the company’s stock.

A number of research analysts have issued reports on KO shares. ValuEngine lowered The Coca-Cola from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Bank of America reissued a “buy” rating and issued a $60.00 price objective (up previously from $55.00) on shares of The Coca-Cola in a research note on Wednesday, July 24th. JPMorgan Chase & Co. set a $59.00 price objective on The Coca-Cola and gave the stock a “neutral” rating in a research note on Friday, October 18th. HSBC reissued a “neutral” rating and issued a $52.00 price objective on shares of The Coca-Cola in a research note on Wednesday, July 24th. Finally, Wells Fargo & Co set a $60.00 price objective on The Coca-Cola and gave the stock a “buy” rating in a research note on Monday, October 21st. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $55.95.

In other The Coca-Cola news, SVP Lisa Chang purchased 500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were purchased at an average cost of $53.24 per share, with a total value of $26,620.00. Following the completion of the transaction, the senior vice president now owns 5,448 shares of the company’s stock, valued at $290,051.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nikolaos Koumettis sold 146,000 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $54.31, for a total value of $7,929,260.00. Following the transaction, the insider now directly owns 244,451 shares in the company, valued at $13,276,133.81. The disclosure for this sale can be found here. Insiders have sold 403,026 shares of company stock worth $22,037,406 over the last ninety days. 1.33% of the stock is owned by insiders.

Shares of The Coca-Cola stock traded down $0.08 on Friday, reaching $52.21. 6,997,608 shares of the company were exchanged, compared to its average volume of 13,198,850. The stock has a fifty day moving average price of $53.85 and a 200-day moving average price of $52.23. The firm has a market capitalization of $224.59 billion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 3.65 and a beta of 0.46. The company has a current ratio of 0.92, a quick ratio of 0.79 and a debt-to-equity ratio of 1.50. The Coca-Cola Co has a fifty-two week low of $44.42 and a fifty-two week high of $55.92.

The Coca-Cola (NYSE:KO) last announced its earnings results on Friday, October 18th. The company reported $0.56 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.56. The company had revenue of $9.51 billion for the quarter, compared to analyst estimates of $9.42 billion. The Coca-Cola had a return on equity of 45.21% and a net margin of 22.41%. The Coca-Cola’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.57 earnings per share. On average, equities analysts anticipate that The Coca-Cola Co will post 2.1 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Friday, November 29th. The Coca-Cola’s dividend payout ratio (DPR) is presently 76.92%.

About The Coca-Cola

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant-based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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